age. the point where new payment per month becomes more dominating than just interest) is actually a function of the new loan’s interest rate alone. That’s, this new overarching loan amount is relevant insofar because it decides the latest number of each month’s percentage you to definitely goes toward dominating and you will desire, but it does not apply at when payments to the dominating surpass repayments towards interest.
Regarding the analogy more than, new tipping area is mostly about 13 many years; simply toward 153rd payment will a lot of payment per month go towards the the principal than just attention. Συνέχεια ανάγνωσης To have fund with similar label duration, new tipping point-on a fixed-rate home loan (we